UV Adhesives Market
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UV Adhesives Market Size
UV Adhesives Market size crossed USD 770 million in 2022 and is poised to register over 8.5% CAGR during 2023 and 2032. The introduction of advanced technologies and supportive government policies will favor business development.
The global consumer electronics sector is expected to depict a significant rate as consumers’ buying preferences change owing to the penetration of digital technologies. This factor will drive the consumption of UV adhesives, which are widely used in the electronics sector to speed up the bonding process and save energy as well as space.
The electronics sector has experienced significant growth in recent years on account of the technological advancements and increasing demand for electronic devices. the electronics sector has experienced significant growth in UV adhesives market due to technological advancements and increasing demand for electronic devices.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| UV Adhesives Market size in 2022: | USD 775 Million |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 - 2032 CAGR: | 8.5 |
| 2023 Value Projection: | USD 1.8 Billion |
| Historical Data for: | 2018 to 2022 |
| No of Pages: | 468 |
| Tables, Charts & Figures: | 809 |
| Segments Covered: | Product, End-user, Region |
| Growth Drivers: |
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| Pitfalls Challenges: |
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However, one of the major factors hindering the adoption of UV adhesives is high cost of manufacturing. Raw materials, such as ultraviolet curing resins and optical brighteners, are expensive and can increase the product’s price as compared to conventional materials. The equipment used in the production processes is expensive as many industrial systems are equipped with several complex components. The complexities associated with the overall structure of curing & dispensing machines will thus increase the price of UV adhesives, inhibiting industry growth.
Silicone-based UV adhesives market is predicted to record revenue of over USD 320 million by 2032. These adhesives possess several supreme properties, such as their ability to produce bonds that can withstand high temperatures, remain flexible after curing, and offer strong resistance against water and chemicals.
UV-cured silicone adhesives can decrease reliance on additional heating sources by using UV lamps, preventing excessive heat generation. They also comprise excellent electrical properties and can be formulated to be insulative with high dielectric strength. Silicon-based UV adhesives can also be formulated to become electrically conductive, showcasing their flexibility and consequently bolstering product consumption.
UV adhesives market from the cosmetics end-use segment is set to observe more than 8% CAGR through 2032. The cosmetics sector is expanding at a considerable rate amid the rapid shift in preference toward high-end cosmetic products, especially among younger populations.
UV adhesive products that have acrylic and cyanoacrylate formulations are utilized on a large scale in different cosmetics and beauty items including eyeliner pencils, decorative glassware, and gel nail polishes. UV adhesives offer several benefits when used in cosmetic products, including strong bonding, quick curing time, reduced chemical exposure, improved appearance, and water resistance. This in turn is promoting product consumption within the industry.
North America UV adhesives market is anticipated to reach USD 388.5 million by 2032. UV adhesives are also used for the assembly of complex medical instruments and devices, such as disposable needles & syringes, facemasks, tube sets, catheters, reservoirs & housings, oxygenators, respiratory machines, and others. The demand for medical devices in the United States has been consistently high in recent years, with the market projected to continue growing. The COVID-19 pandemic has also contributed to an increase in demand for medical devices as healthcare providers have needed to expand their capacity and capabilities to treat patients. Factors such as these may create a favorable environment for regional market expansion.
The global healthcare sector is estimated to grow at a substantial rate despite the adverse economic impact of the COVID-19 pandemic since its onset in 2020. This factor will accelerate the UV adhesives industry expansion, as the product is used for bonding, sealing, coating, and repairing medical devices, such as catheters, needles, connectors, and syringes. UV adhesives business expansion is expected to be especially prevalent in the U.S. medical sector, given its extensive use as a bonding agent in various applications across the region.
are some of the leading players operating in the UV adhesives market. These companies are signing partnership and merger & acquisition deals to extend their presence in niche markets and increase their customer base.
By Product
By End-User
By Region
North America market share for UV adhesives is anticipated to surpass USD 388 million in valuation by 2032, on account of the robust product adoption in the assembly of complex medical instruments and devices.
3M, H.B. Fuller, Permabond Engineering Adhesives, Henkel, BASF SE, DowDuPont (Dow Corning), Epoxy Technology, Inc., Cartell UK Ltd., Panacol-Elosol GmbH, DELO Industrial Adhesives, Excelitas Technologies Corp, and Dymax Corporation are some of the leading manufacturers of UV adhesives.
Global market size for UV adhesives was valued at over USD 770 million in 2022 and is expected to register over 8.5% CAGR through 2023-2032, due to increasing product demand from the consumer electronics sector.
UV adhesives industry size from the cosmetics segment is set to register more than 8% CAGR through 2032, given the use of adhesives with acrylic and cyanoacrylate formulations in cosmetics and beauty items including eyeliner pencils, decorative glassware, and gel nail polishes.